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Perhaps Buffett sees that bold action is needed to optimize profits e.g. cutting jobs or asset stripping. He definitely doesn't have have time to be make these
by nroets 7y ago
Perhaps Buffett sees that bold action is needed to optimize profits e.g. cutting jobs or asset stripping. He definitely doesn't have have time to be make these bold decisions. And he may not want to cloud his reputation by being in control while the jobs are cut.
A third possibility is that Lee has synergies that Berkshire doesn't have e.g. Lee can give it scale.
- duxup 7y agoArguably being a big investor type probabbly has a lot to do with knowing ... when you're not in a position / maybe not good at the thing that needs to be done.
- sjg007 7y agoLee is already the manager of the company. He worked for Buffet.
- is_true 7y agoThis is spot on. Lee is gonna do things Buffet wouldn't
- soperj 7y agoAll of Buffett's companies are pretty lean. They actually let go of a lot of people, he just doesn't wear it because he doesn't run the companies directly.